Philips Healthcare sales stepped up solidly in Q4
Philips Healthcare ($PHG) has a lot to crow about over its 2012 fourth quarter results, having generated steady growth in all device and medical equipment-related business lines.
Sales from operations for the division of the Dutch conglomerate Royal Philips Electronics rose overall in the quarter to $3.9 billion U.S. in the 2012 fourth quarter, up from just under $3.7 billion U.S. over the same period last year. Philips Healthcare--which sells imaging equipment, ventilators and other hospital-related medical devices--booked $13.6 billion U.S. in sales for the 2012 fiscal year, a solid rise from $12 billion U.S. in sales during 2011.
Specifically, Philips credits the good numbers to steady sales growth in healthcare-related customer services, imaging, and patient care & clinical care informatics, year-over-year.
Philips didn't do as well overall. The company booked a $488.5 million net loss during the fourth quarter, Bloomberg noted, up from a $221 million U.S. net loss over the same period in 2011. Why the bad result? The company blames a $694 million European Commission fine regarding a price-fixing scandal over cathode-ray tubes for now out-of-date televisions, though Philips said it will appeal the decision.
Philips Healthcare had an active fourth quarter, forming or expanding deals such as a broadened partnership with Sweden's Elekta to create a single MRI-guided radiation therapy system blending MRI with precise radiation delivery. Philips also partnered with Infraredx to develop an enhanced high-tech catheterization lab.